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Highlights / Annotations / Catch Notes For January of 2024

Home Highlights January January 2024 Year 2024

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Showing 151 to 200 of 666 Records

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January 25, 2024 Case Laws Income Tax

Validity of reopening of assessment - reopening beyond period of four years - reason to believe - Old regime - Once the primary facts are disclosed by the assessee, the.....
January 25, 2024 Case Laws Income Tax

Right to Information (RTI) relating to assessee relating to income tax - supremacy of RTI or IT Act - as contented any information relating to any assessee relating to......
January 25, 2024 Case Laws Income Tax

Reopening of assessment u/s 147 - exemption u/s 11 - As stated in the third proviso to Section 147 of the Act, the A.O. has no jurisdiction to assess or reassess any......
January 25, 2024 Case Laws Income Tax

Condonation of delay filling Revision u/s 264 - refund of the FBT return - Powers conferred under Section 264 of the Act are very wide. Commissioner is bound to apply......
January 25, 2024 Case Laws Income Tax

Validity of Attachment of Petitioner's Properties Post Assessment Order Set Aside and Refund Adjustment - Provisional attachment - after expiry of period of six months......
January 25, 2024 Case Laws Income Tax

Capital gain computation - Fair Market Value as on 01.04.1981 u/s 55(2)(b)(i) - the fair market value of the impugned immovable property should be adopted at Rs.......
January 25, 2024 Case Laws Income Tax

Revision u/s 263 - Computation of capital gain/loss - reduction of the paid up equity share capital consequent to scheme of arrangement and restructuring - we are not......
January 25, 2024 Case Laws Income Tax

TP adjustment - payment of shared service charges paid by the assessee to the AEs - once availing of various services from the AEs is duly substantiated by the......
January 25, 2024 Case Laws Income Tax

Disallowance of mark to market losses - Nature of loss - allowable business loss or not? - The assessee is consistently following the method of accounting. Therefore,......
January 25, 2024 Case Laws Income Tax

Disallowance u/s 43B - Assessee has not claimed it as an expenditure in the P&L - No hesitation to hold that non- payment of above amount to government account before......
January 25, 2024 Case Laws Income Tax

TDS u/s 195 - fees for technical services - Since, the payments are made prior to the amendment, it is impossible for the assessee to perform impossible things and......
January 25, 2024 Case Laws Customs

100% EOU - Demand of customs duty on goods that were imported but remained undelivered, by rejecting the request of the appellant for remission of the duty - Nothing was....
January 25, 2024 Case Laws SEBI

Termination of petitioner as a Depository Participant of CDSL[Central Depository Services] - Requirement of meeting the net worth and minimum turnover - Thus prima facie....
January 25, 2024 Case Laws Insolvency and Bankruptcy

Approval of Resolution Plan - conditions precedent pending before the NCLAT - adjustment of a Performance Bank Guarantee (PBG) - SBI has stated that the lenders have......
January 25, 2024 Case Laws Service Tax

Levy of Service Tax - reverse charge mechanism - lease of mine and assignment of right to use of natural resources - The payment of Royalty, FDT and other applicable......
January 25, 2024 Case Laws Indian Laws

Public Interest Litigation - Doctrine of Locus Standi - validity of notification dated 19 January 2024 issued by the Government of Maharashtra declaring 22 January 2024.....
January 24, 2024 Case Laws GST

Validity of Retrospective cancellation of GST registration of the petitioner - It is important to note that, according to the respondent, one of the consequences for......
January 24, 2024 Case Laws GST

Maintainability of writ petition - Demand of GST on nfrastructure Development Cess and Environment Cess - availability of alternate efficacious remedy of appeal under......
January 24, 2024 Case Laws GST

Refund amount recovered coercively - Despite paying 20% of the tax in dispute, the tax authorities issued a demand and forcibly recovered the full balance - GST......
January 24, 2024 Case Laws GST

Power to review versus Power to rectify - cancellation of GST registration - the appellate authority erroneously exercised its power under Section 161 of the Act. The......
January 24, 2024 Case Laws GST

Violation of principles of natural justice - opportunity of hearing not provided - determination of the tax due or short paid or refunded erroneously or input tax credit....
January 24, 2024 Case Laws Income Tax

Validity of reopening of assessment - Validity of multiple notices issued under various sections of the Income Tax Act, particularly targeting the application of Section....
January 24, 2024 Case Laws Income Tax

Accrual of income in India - royalty receipt - transmission of ‘live feed’ - Income from the transmission of 'live feed' does not fall within the ambit of 'royalty'......
January 24, 2024 Case Laws Income Tax

Prosecution Proceedings initiated u/s 276C - Bogus LTCG - guilty mind i.e., mens rea - willful evasion of tax on claims made under the head LTCG/Short Term Capital Loss.....
January 24, 2024 Case Laws Income Tax

TDS u/s 195 - disallowance u/s. 40(a)(i) for non deduction of TDS on payment to non-resident which is in nature of FTS(Fee for Technical Service) - beneficial provisions....
January 24, 2024 Case Laws Income Tax

Legal presumption u/s. 132(4A) &s.292C - whether cannot be given restrictive interpretation so as to consider applicable only to the searched person and not to other......
January 24, 2024 Case Laws Income Tax

Capital Gain - property received by way of gift - Cost of acquisition of the asset shall be the cost for which the previous owner of the property acquired it, as......
January 24, 2024 Case Laws Income Tax

Correct head of income - income earned out of sale of property - business income or capital gains - when the asset was converted into stock-in-trade - the assessee has......
January 24, 2024 Case Laws Income Tax

Validity of the assessment order issued in the absence of issuance of notice u/s 143(2) - protection u/s 292BB eligible or not? - It is now well settled law that if the.....
January 24, 2024 Case Laws Income Tax

Exemption u/s 11 - cancelling registration granted u/s 12AA/12AB of the Act by invoking the provisions of section 12AB(4)(ii) of the Act with retrospective effect - no......
January 24, 2024 Case Laws Income Tax

TP Adjustment - MAM - Considering brokerage rate of all Non-AEs for the comparability purposes - Arm's Length Price (ALP) of broking commissions - The Tribunal directed.....
January 24, 2024 Case Laws Income Tax

Taxability of surplus on redemption of Treasury bills under the head ‘Profits and Gains of Business’ - treasury bills were sold by the Reserve Bank of India on behalf of....
January 24, 2024 Case Laws Income Tax

TDS u/s 195 - assessee has already deducted tax under section 192 of the Act in respect of salary cost of expatriate employees - where profit attribution to a PE is......
January 24, 2024 Case Laws Income Tax

Credit for TDS - Whether the Tax Deducted at Source (TDS) on mobilization advance, which is a capital receipt, should be credited in the year of deduction - Mobilization....
January 24, 2024 Case Laws Income Tax

Deduction u/s 35(2AB) - approval by DSIR not taken - Since the related issue of approval by DSIR, is pending adjudication before the Hon’ble High Court, therefore, for......
January 24, 2024 Case Laws Income Tax

Addition u/s 69A - cash balance on account of withdrawal from different bank accounts - The mere fact of holding cash for a longer period was not a sufficient ground for....
January 24, 2024 Case Laws Customs

Violation of principles of natural justice - SCN different from impugned order - Re-classification of imported goods - The Tribunal found that the first appellate......
January 24, 2024 Case Laws Customs

Concessional rate of Customs Duty - Import of Natural Cocoa Powder from Malaysia - - In the present case in the face of certificate of origin having been produced and no....
January 24, 2024 Case Laws Customs

Valuation - Demurrage charges - The goods were seized under the suspicion of being overvalued, and the appellant was coerced into accepting a lower value. - The entire......
January 24, 2024 Case Laws Customs

Absolute confiscation of the cash - Smuggling - Red Sander Wood Logs - prohibited goods or not - The impugned order qua absolute confiscation of cash seized is contrary.....
January 24, 2024 Case Laws SEBI

Forum Convenience - jurisdiction of Delhi High Court - The High Court while exercising its jurisdiction under Article 226 of the Constitution of India to entertain a......
January 24, 2024 Case Laws Service Tax

Demand of service tax - Valuation - TDS deposited to the Income Tax department in relation to the payment made to the Foreign Service Provider - It can be seen from......
January 24, 2024 Case Laws Service Tax

Classification of service - the claim of the appellant that they have been appointed to execute the project has been rightly rejected by the learned Commissioner as the.....
January 24, 2024 Case Laws Central Excise

Input Tax Credit - Eligibility for Service Tax credit - commission paid to its directors, as per the company’s board resolution - it is clear that payment made to......
January 24, 2024 Case Laws Central Excise

Eligibility for Abatement of duty - Notified Goods - Compounded levy scheme - The revenue has demanded duty for days for which the machine was not in operation - In the.....
January 24, 2024 Case Laws Central Excise

Method of Valuation - section 4 (on the transaction value) or under section 4A (on the RSP minus abatement)? - bulbs sold by the appellant to EESL - How can a retail......
January 23, 2024 Case Laws GST

Validity of grant of anticipatory bail by the lower court - fake bills were made for the purchase of the cigarettes - Reversal of ITC - The respondent / accused has......
January 23, 2024 Case Laws GST

Seeking grant of anticipatory bail - fake bills were made for the purchase of the cigarettes - reversal of ITC - They were evading summons until the grant of......
January 23, 2024 Case Laws GST

Classification of Rolls made of Polyester, Nylon Taffeta, Satin etc. - The Rolls made of Polyester, Nylon Taffeta, Satin, etc., with widths ranging from 10 millimeters......
January 23, 2024 Case Laws Income Tax

Additions on account of profit on the sale of machinery of a closed-down unit. - The court held that reducing the block assets by the amount representing the sale of......

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F: Stock damaged in recent floods

F: GST on Solar Plant

A: PENALTY ON DIRECTORS CONTRAVENING EXPORT REGULATIONS UNDER FOREIGN EXC...

A: Difference between “License” and “Royalty”

A: Penalty proceedings under Section 130 of the CGST Act cannot be initia...

N: Inland Container Depots for loading and unloading of goods - Seeks to ...

C: Guidelines to Stock Exchanges, Clearing Corporations and Depositories

T: Supreme Court Upholds Validity of Re-Assessment Notices Issued During ...

F: Transfer of ITC without filing ITC-02

F: assessment order

F: INTERMEDIARY SERVICES OR EXPORT SERVICES

H: Revision: Hospital receipts verified, partial refunds & fees paid subs...

F: ITC Issue in case of Acqusition of Company in Insolvency

H: Goods matched documents like e-way bill and invoices; detention order ...

H: Goods Inspection Matches E-Way Bill, Lack of Tax Evasion Intent Quashe...

H: Income tax reassessment validity: AO initiated proceedings u/s 147 ins...

H: Reassessment Rules Interpretation: Taxpayer Wins Over Accommodation En...

H: Sale-purchase loss disallowed unreasonably by tax officer, commercial ...

H: Building sale value can't determine depreciation; actual consideration...

H: Loan to equity conversion attracts income tax on excess share premium ...

H: Property purchase: Joint owners pay via banking channels before regist...

H: Tax exemption limit for leave encashment: Local authorities' employees...

H: Tax assessments beyond 6-year limit quashed, satisfaction note lacked ...

H: Cash found in lockers linked to temple trust and educational foundatio...

H: Microphone Tech Classification: Functionality Over Technology.

H: Exemption from Social Welfare Surcharge on duty-free imports via scrips.

H: Claim for performance pay not an operational debt under IBC; Multiple ...

A: Director Identification Number

A: No GST is applicable for the services provided by the Director under p...

A: Income Tax Act Revamp (Comprehensive Review): Status and Suggestion on...

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